tThe Indian Pet Care Market has experienced remarkable expansion and transformation in recent years. The Indian pet industry is seeing a surge in pet adoption due to reasons such as social isolation, nuclear families, urbanisation, and increasing disposable money. However, when compared to worldwide markets, the Indian pet care business is still in its infancy. In this article, we will look at the present situation of the Indian pet industry, the issues it confronts, and the birth of Vetic, a contemporary network of veterinary clinics striving to revolutionise pet healthcare in India.
The Expansion of the Indian Pet Market
The Indian Pet Care Market has been continuously rising, owing to the country’s shifting demographics and lifestyle preferences. The market is currently worth between 1.5 and 2 billion dollars, with around 30 million dogs. The number of pets has climbed from 21 million to more than 32 million in the last four years. According to projections, the Indian pet market might be worth $6 to $7 billion within the next five years.
Compared to Global Markets
In comparison to other worldwide markets, the Indian pet sector is still in its infancy. In the United States, for example, around 68% of homes have pets, totaling 140 million pets. China has seen substantial increase as well, with roughly 150 million pets. However, just 25% of Chinese families possess pets. These data demonstrate the enormous potential for development in the Indian pet industry in the future years.
Segments of Pet Healthcare
In India, the pet market is primarily divided into two segments: pet food and pet healthcare, commonly known as vet care. Pet food is a significant worldwide business, with established brands such as Mars and Purina dominating the industry. These companies have recently joined the Indian market, but there are still prospects for new brands to gain market share.
Pet healthcare in India, on the other hand, is still in its early phases. Currently, the market is dominated by independent veterinarian clinics. Unlike in the United States, where veterinary clinic chains control around 20% of the market, India’s pet healthcare business is dominated by individual practitioners. Consultations, treatments, immunisations, procedures, and drugs are all available at these clinics. Vaccination is critical in protecting the quality of life and longevity of dogs. While the United States and Europe have reached the point where some immunisations are no longer required due to extensive coverage, India is still moving towards this goal.
Pet Care Market Difficulties
The pet care industry in India confronts various obstacles, the most significant of which are standardisation, quality care, and a lack of trustworthy brands. Unlike human healthcare, which has experienced developments with the arrival of established hospital chains, the veterinary health industry lacks standardisation and quality brands. The availability of clinical and medical infrastructure, technology improvements, and brand trust continue to be significant issues in the pet care business.
Vetic: Bridging the Pet Healthcare Gap
I is a novel solution that aims to fill holes in the Indian pet healthcare ecosystem. Vetic was inspired by Gaurav Ajmera and his wife’s personal experience with their cat, Simba. Gaurav recognised the need for a comprehensive and technologically sophisticated veterinary care solution after experiencing various health concerns with Simba and visiting multiple vets.
The Vetic intends to provide a full variety of pet healthcare services under one roof. It includes consultations, immunizations, grooming, and procedures. Vetic uses technology to provide the greatest medical care for dogs, assuring their well-being and longevity. Vetic has launched 13 clinics in the National Capital Region (NCR) since its beginning in August 2022, with ambitions to expand to roughly 40 clinics in key metros across India by June 2024.
The Indian pet care industry is expanding and evolving. It is a result of factors such as changing lifestyles, urbanisation, and rising disposable money. Although it is still in its infancy in comparison to global markets, the Indian pet sector has enormous growth potential. However, issues like as standardisation, quality care, and the lack of trustworthy brands must be addressed.
Vetic seeks to fill these gaps by providing comprehensive and technologically advanced veterinarian services. Vetic and similar efforts play an important part in ensuring the well-being of pets. It addresses the rising demand for high-quality pet care services as the Indian pet industry evolves.
